What is Avalanche’s native token? Revolut Crypto Quiz Answers

What is Avalanche’s native token?

The Correct answer is AVAX

AVAX is the native cryptocurrency of the Avalanche platform, a decentralized platform that aims to provide a highly scalable and customizable ecosystem for building decentralized applications (dApps) and enterprise blockchain solutions. AVAX is used for various purposes within the Avalanche network, including:

1. Transaction Fees: Users need to pay transaction fees in AVAX to use the Avalanche network. These fees are paid to validators who secure the network and validate transactions.

2. Staking: AVAX can be staked by users to participate in the network's consensus mechanism and help secure the network. Stakers are rewarded with additional AVAX for their participation.

3. Governance: AVAX holders can participate in the governance of the Avalanche network by voting on proposals and changes to the network's protocol and parameters.

4. Asset Issuance: AVAX can be used to create new assets on the Avalanche platform, enabling users to issue their own tokens and digital assets.

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What Is The Revolut Crypto Quiz?

Revolut, a financial technology firm, has launched a new educational initiative called the Revolut Crypto Quiz. This initiative aims to attract more users to its platform. Users can earn free Polkadot tokens, valued up to $15, by participating in interactive quizzes.

To participate, users need to register with Revolut and play the quiz. The quiz focuses on the Polkadot ecosystem and is divided into nine short, informative lessons.

The first set of quizzes is already available for users to play. However, Revolut has not announced when the next set of quizzes will be released.